GBP/USD - Upward Movement Reached First Resistance
FxGrow | Mar 03, 2016 07:19AM ET
GBP/USD - upward movement reached first resistance
After huge selloff last week, GBP/USD reached 1.3850 support. At this area we observe lows from 2009 and since the beginning of current week, area caused a rebound. The goal for market demand side won't be easy because price is in downtrend, however after such a big selloff the rebound's range might be big.
Currently price reached first resistance at 1.4080 and bulls aren't giving up. Next resistance is located at 1.4200, but really significant level is located at 1.4400.
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